Internal Auditor Education Requirements

Internal auditing is one of the best corporate governance practice in firms. Such practices are being following regularly by these organizations. The role of the internal auditors in a firm is to detect the malpractices happening in the firm especially focusing in the area of accounting and financial transactions. They should cross check all the accounting practices followed by the firm, costing techniques applied, profit records, debit and credit of the company, etc. The purpose of all these functions would be to bring about the proper and improper practices followed by the firm in front of the stakeholders. Such internal auditing helps the company to maintain clean record and follow the right procedures and management controls. Candidates who would like to become an internal auditor should have knowledge in accounting and finance and management accounting.

Internal Auditor Educational Requirements

  • It is very essential for candidates who would like to become an internal auditor to have a background in finance and accounting. This is the basic minimum requirement to apply for the job of an internal auditor.
  • Internal auditing requires candidates to have knowledge of corporate governance, management control systems, cost accounting, management accounting, profit centres, cost centres, etc. They should be able to understand the whole business well and apply the above concepts for audit the firm in the best possible manner.
  • The legal concepts related to business and the federal governance rules that apply to government and private firms should also be known and applied well by the prospective candidates.

Internal Auditor Degree, Courses, and Certifications

Interested candidates should choose the following courses if they want to become an internal auditor. These courses are available in many top universities in the field of general management.

  • Master of Science in Accounting – Auditing
  • Master of Business Administration in Forensic Accounting
  • Bachelor of Business Administration in Accounting
  • BSA – Auditing and Forensic Accountancy
  • BS in Financial Forensics

Internal Auditor Qualifications and Training

Candidates can look at Graduate certificate in accounting, ISO Auditor certification, Bank auditor certification to become a certified internal auditor. These additional certifications improve the prospects of a candidate to get a better job and a better role.

Internal Auditor Colleges and Universities

Internal Auditor Wages and Salaries

There are many opportunities where candidates can contribute as an internal auditor. This job role is available in sectors like banking, financial services, accounting firms, insurance companies, health care industries, etc. As an internal auditor, candidates can earn anywhere between $32,000 and $71,000 per annum with the median being $48,000 per year. These estimates are projected by Pay Scale which has presented the national salary data.

Category: Accountant Education Requirements

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